November 2 (SeeNews) - Bulgarian insurer Euroins has pared its net loss by 77% to 523,000 levs ($395,000/267,000 euro) through September as its net revenue rose 6.4% to 57.3 million levs, the company said.
Following are details from the company's nine-month financial report (in million of levs):
|
Jan-Sept'09 |
Jan-Sept'08 |
NET LOSS |
0.523 |
2.255 |
OPERATING LOSS |
0.339 |
2.252 |
GROSS WRITTEN PREMIUMS |
52.971 |
57.507 |
NET PREMIUMS |
50.091 |
52.259 |
NET REVENUE |
57.301 |
53.834 |
Last year, Euroins turned to a net loss of 13.4 million levs from a net profit of 5.4 million levs in 2007 due to a considerable rise in reserves set aside to meet payments on third-party motor insurance policies.
In April, the company said it expected a 6.9% rise in premium income to 88 million levs this year.
(1 euro = 1.95583 Bulgarian levs)